On August 9th, 2011, the Federal Reserve promised to maintain short-term interest rates through at least June of 2013 and possibly beyond. While some forecasters are nervous about this decision’s effect on consumer confidence, this is great news for the potential home-buyer and for those still sitting on the fence about purchasing a home.

Right now, for those who are interested in purchasing a home, the market boasts two great features. The first is the low rates that the Federal Reserve has now promised to maintain until the middle of 2013. A low interest rate means savings for the home buyer. It also means a lower monthly payment, which can be an important consideration in a difficult job market. Ultimately, the Federal Reserve’s promise is hoped to spur investment. If consumers can count on low interest rates, it may encourage those who have not made up their mind about purchasing a property. This is important, as each purchase is an increase in economic growth, since large purchases tend to foster greater growth.

The second great feature is the availability of homes on the market. There are countless homes for sale and they are often at a great deal. For the potential homebuyer, it may be easier than ever to find a home that he or she can afford and that has the features he or she desired.

Therefore, those who are not certain yet, it is time to hop off the fence. Between a record-low interest rate and an abundance of choices, your dream home could be yours… soon!

This article co-authored by Rachel Pinter and Becki French.

In the current economy, we constantly come across more information and news regarding the volatile housing industry. According to Amy Bohutinsky, VP of Marketing and Communications for Zillow.com, it could take some time for Puget Sound to recover.

Bohutinsky says that as far as the recovery goes, the Northwest is about a year behind the rest of the nation. According to Bohutinsky, home prices in the Northwest peaked in the middle of 2007, in California, home prices peaked in 2005, and across the country in 2006. What this means is that since we were late to reach our peak, we’ll be late to stabilize as well.

Despite sales being up, home values are still dropping. The problem is the excess inventory of homes.

As more foreclosures hit the market more houses will be added to the housing inventory. Until the months of housing inventory starts to deplete, home prices will continue to decrease.

One thing to keep in mind is that certain areas or counties are hit harder than others. For example, year-over-year declines show Seattle down 11.5 percent, King County down 9.6 percent, Pierce County down 7.9 percent, and Snohomish County down 13.3 percent.

In this market, there are a few simple things to keep in mind.

If you’re a homeowner, it only matters to you if you’re going to move right now or you want to refinance.

If you’re a buyer, it means that homes are more affordable than they’ve been in many years, coupled with historically low mortgage rates, it can be a great time to buy.

If you’re trying to sell your home, be realistic about pricing. An overpriced home will sit on the market indefinitely unless the price is comparable to others homes on the market.

To see the full article and interview with Amy Bohutinsky, please see the King 5 website.

‘Twas the night before Christmas, when all through the office,

All of the attendants, were somewhere amiss,

Papers were stacked on the desks with care,

In hopes that when they got back they’d still be there,

The agents had gone home, and nestled in their beds,

While visions of closed deals, danced in their heads;

And my cat in his pajamas, and I in my sweater,

Were both poking fun at who ‘looked better’.

When out in the den there arose such a sound,

I lept from my chair, and flung the cat to the ground.

Away to my computer, I flew like the dawn,

I wiggled my mouse and turned the screen on.

The login screen appeared, and I typed like the wind,

As it processed my password, I happily grinned.

I searched for what, the sound had been,

Ho! Instant Messenger! A new email came in.

I opened my inbox, and to my eyes did appear,

A tiny digital sleigh, and animated reindeer,

With a little old driver, pixelated and thick,

I knew in a moment it must be St. Nick!

With animated vibrance, his coursers they came,

He whistled and shouted, and called them by name;

“Now Dasher! Now, Dancer! Now Prancer and Vixen!

I would have brought Cupid but didn’t know how to fix ‘im!

To the top of Matrix! To the top of the NWMLS!

Don’t let the down market keep you depressed!”

So navigating my browser to Matrix they flew,

With a sleigh full of .pdf files and St. Nicholas too.

And in a twinkling, like a candle against gold,

They showed me the house that I’d listed just sold!

And the digital Santa with his mouth drawn like a bow,

And the beard of his pixel chin as white as the snow;

He gave me a wink, and sprang back to his sleigh,

And with a whoosh he was off and away.

And as I waved farewell, my lip did quiver,

I knew for a fact he had more emails to deliver.

But I heard him exclaim, ere he disappeared from my sight,

“Happy Holidays to all, and to all a good-night.”

Happy holidays everybody!

The first snow of the season has come and gone. It’s cold and will be getting colder. There are many families who will need help this winter staying warm. That is why Puget Sound Energy has a partnership with The Salvation Army to help provide qualified low-income families with heat and natural gas this winter. Puget Sound Energy’s customers, employees, and the corporate giving program contributed over $700,000 to the Warm Home Fund last year, providing assistance to nearly 4,000 families. Contact your local Salvation Army unit for more information.

In addition to the Warm Home Fund, Puget Sound Energy’s HELP Program provides additional bill-payment assistance to qualified PSE customers. Eligible customers can receive up to $1,000 per year in credits to lower their electricity or natural gas bills. Depending on the county in which you live, the maximum household income for eligibility ranges between 125 percent and 150 percent of the federal poverty guidelines. HELP assistance is offered year-round to eligible customers.

For more information, please visit Puget Sound Energy’s website.

“Get your green on!” The slogan for the Seattle Home Show 2 focuses on living green and natural, and green design.

Beginning Friday, October 8^th through Sunday, October 10^th, 2010, the 12^th annual housing extravaganza, the Seattle Home Show 2, will open at Qwest Field Event Center. The Home Show will have on display hundreds of home and garden products; daily “Meet the Experts” seminars; cooking demos conducted by local chefs and more. The Seattle Home Show 2 will show you ways you can save money in this tough economy. From cutting your painting costs, to saving energy on electricity, there’s so much here you’ll want to see and learn about.

Some Highlights of the Show

• Remodeling tips and information from experts in the industry.
• Home designs focusing on classic and simpler lines.
• How to save on lighting and energy bills through home automation.
• Tips for cleaning the home from the guru of household hints, Joey Green.
• Cost effective tips for green design and green living.
• Things you can do now to be ready for the housing rebound.
• Chef cooking demonstrations.
• Seminars conducted by experts in home improvement, decorating, and landscaping.

Where To Park

Parking for the Seattle Home Show 2 is available in the Quest field Event Center parking garage, Quest Field North Lot, Safeco Field parking garage as well as other lots in the area. If you have four or more occupants in your vehicle, you should take advantage of the “Four or More Park Free” designated parking areas (Quest Field Event Center lots, and Safeco Field).

Show Hours and Information

When: October 8 – 10, 2010

Times: Friday and Saturday, 10AM to 8PM. Sunday, 10AM to 6PM.

Paid attendees can return a second day for free through “Too much to see, come back for free!” by registering with valid ID, parking not included.

Admission: $10.00 for adults, $7.00 for seniors (60+) and $3.00 for juniors (ages 7 -15), under 7 are free. Visa and Mastercard are accepted.

E-Tickets

E-Tickets can be purchased online at SeattleHomeShow.com. E-Tickets include free parking for the show at Quest Field Event Center and Safeco Field.

The 2010 spring Washington Job Vacancy Survey Report recorded the first increase in the number of job vacancies offered since fall 2006. The survey indicated that companies were attempting to fill an estimated 38,732 open positions during the April 2010 survey period. While theses job opening indicate that the economy is improving, it is still unclear whether Washington state and the nation are indeed entering a recovery period.

This is good news for job seekers in Washington. According to the survey for this spring, it shows a 21 percent increase in openings since last fall. Most of the jobs are made up by the private sector, however, some public health care and education jobs are included.

Health Care was the leading industry in job growth. Registered nurses were the job that was most in demand with over 2,300 openings.

Software engineers were the next in terms of most needed, with almost 2,000 job openings.

For more information, please see the full survey.

Fall is a great time to shop for earth friendly supplies and teach our children some healthy alternatives at the same time. An average family can spend up to $250.00 on school supplies ie paper, notebooks, lunch boxes, pencils, pens, crayons etc. Not to mention electronics. Many of these supplies contain toxins that can affect our children’s learning and come with a cost to our environment.

Shop for nontoxic art supplies. Double check those paints, markers and glues for toxic ingredients. Look for the AP label for safe supplies. (The Art and Creative Materials Institute or ACMI) This label will indicate that the products are less toxic though not necessarily free of toxins.

Paper is a huge culprit for toxins as bleach is used to brighten the paper so be careful when purchasing paper for your kids. Much of the paper used for school supplies come from endangered forest in the southern US and Indonesia. The paper industry is the 4^th largest emitter of greenhouse gases and the 3^rd largest of industrial waste. Choose your paper carefully, use it sparingly and recycle appropriately.

In case anyone else has been wondering what the black boxes above SR 520, I-90 and I-5 were…

First, no, they don’t take your picture, have lasers, or mail you tickets. The black boxes hovering precipitously above the highways are there to help with traffic. They are Active Traffic Management tools. They are essentially a series of electronic speed-limit and lane status signs that will adjust automatically to help highway-goers navigate with a higher degree of safety and efficiency.

Using Technology Improves Traffic

Active traffic management tools have been proven to be effective at reducing collisions and improving traffic flow in Europe. The use of the technology has reduced collisions by around 30% and increased the total traffic capacity on the roadway.

The goal is to utilize the traffic management signs to reduce congestion and help make travel safer and efficient.

For more information, please see the WSDOT web page for SR 520 and I-90 active traffic management.

1. Know about exclusion to coverage. For example, most insurance policies do not cover flood or earthquake damage as a standard item. These types of coverage must be bought separately.
2. Know about dollar limitations on claims. Even if you are covered for risk, there may be a limit on how much the insurer will pay. For example, most policies limit the amount paid for stolen jewelry unless items are insured separately.
3. Know the replacement cost. If your home is destroyed you’ll receive money to replace it only to the maximum of your coverage; so be sure you insurance is sufficient. For example, if your home is insured for $150,000 and it costs $180,000 to replace it, you’ll only receive $150,000.
4. Know the actual cash value. If you chose not to replace your home when it was destroyed, you’ll receive replacement cost, less depreciation. This is called actual cash value.
5. Know the liability. Generally your homeowner’s insurance covers you for accidents that happen to other people on your property, including medical care, court costs, and awards by the court. However, there is usually an upper limit to the amount of coverage provided. Be sure that it’s sufficient if you have significant assets.

The Multiple Listing Service is an important part of the home-sale process. This database contains all of the homes for sale. Real estate agents use this tool to find homes for prospective buyers as well as list the homes of sellers. Once the house is part of the database, selling agents will show a copy to their sellers for review, explaining that this is what the public will see. The seller will proof for accuracy at that time as well.

However, sellers may find it wise to know how to optimize their listing. There are thousands of entries in the database and they all compete for the attention of active agents. Listings with certain elements–photography, complete information, and strong details–will attract more attention. More information provides the agent with a better understanding of the property and if it meets the clients’ needs. Photography and strong details will interest the buyers when they receive a copy of the MLS listing.

Since humans rely greatly on visual observation, photographs are an important part of the sale. A listing without pictures or with only a few will not attract as much consideration. This makes sense. The buyer wants to see the property, examine its tiled kitchen, explore its spacious bedrooms, and enjoy its lakefront view. This is to be someone’s home and they want to see as much as they can which usually comes in the form of the MLS listing. Those first impressions are crucial.

Thus, a seller should look at the kind of pictures in his or her listing. What story do these images tell? A picture cannot capture the lazy contentment experienced while resting on a deck and gazing into a span of green forest. Nor can it fully explain the warmth of watching a movie with family by the stone fireplace. Nevertheless, through this option the seller and agent should demonstrate the kinds of memories to be gained. A simple shot of the front of the house is unlikely to reveal the personality of the property and its capacity to be lived in.

Another area that can encourage a sale is the data provided in the General, Listing, Interior Features and Room Information sections. These sections are the nuts and bolts of the house; they are the details that let a buying agent know whether or not the property meets clients’ requirements. For instance, a wrap around deck might be a wonderful bonus, but the agent needs to know if there are three bedrooms or just two. In addition, these sections reveal what is beneath the carpets and if the home features extra storage space, views, garden space, or other unique features.

Again, the MLS entry is handled by the selling agent. But the seller will want to peruse the listing for accuracy. Trust is an important part of selling a home; all parties and their agents need to know that the information provided is correct. Purchasing a home is a big decision and it would be unfortunate for a prospective buyer to be disappointed by a minor typographical error in a listing. The entry should also be complete. Missing information could potentially make an agent wary of a property, as it may falsely contribute to questions at to whether it was the right property or not.

Adequate pictures and accurate, complete information improve a listing’s chances of success. One other way to do this is in the Remarks section. If the details and pictures have caught the eye of a searching agent, the Remarks section is another lure. The real estate agent can give words to the potential memories hinted at in the images. A balance must be struck in the Remarks section; there must be charming description and pertinent information. It is also a good area to include considerations that are not necessarily easily depicted in the rest of the listing. The overall possibility of the property can be remarked upon, such as the potential for a mother-in-law residence or possible financial gains after sweat equity.

All of the aforementioned items are suggestions that improve the attractiveness of a listing. With the right agent, a seller can know that these considerations are being handled. Please do not hesitate to contact Seattle Real Estate Association if you feel your listing is under-performing. We will ensure that your MLS entry has all of the important elements it needs to allow your property to be seen and sold.